Cimb Islamic Fixed Deposit

What is an islamic fixed deposit account.
Cimb islamic fixed deposit. This cimb islamic fria i monthly returns is a shariah compliant investment account following the principles of tawarruq and murabahah with commodity murabahah. B deposit account held by a financial institution conducting labuan banking business or labuan islamic banking business. Rates show are per annum. Apply now for a cimb fixed deposit account with interest rates up to 4 00 p a.
A deposit account payable outside malaysia. In addition the account provides you the flexibility of receiving your returns upfront or at maturity. Saving for your child s education first home or building a fund for the unexpected. This account is open to individuals who are aged 18 and above residents or non residents.
Cimb why wait fixed deposit i account is a shariah compliant fixed deposit product that uses the shariah concept of murabahah. Applicable for new and renewed fria i account effective 18 january 2015 onwards. C deposit account held by a non deposit taking member. Apply online enjoy exclusive rates.
Withdrawal is allowed at a minimum of rm1 000 and in multiples of rm1 000 under the same account number. The profits earned are shared between you and cimb islamic according to the pre agreed profit sharing ratio. Unit trust securities trading account. Cimb islamic bank fixed deposit rates.
Check out the fixed deposit rate offered by cimb islamic bank for various months of placement. This cimb islamic fria i maturity returns is a shariah compliant deposit investment account going by the principles of tawarruq and murabahah with commodity murabahah where you appoint cimb islamic as your agent to trade shariah compliant commodities on your behalf. The key difference conventional and islamic fds is that islamic fixed deposits are shariah compliant. For new customers online application takes less than 10 minutes to complete and existing customers can apply via cimb clicks internet banking under eapplication.
The cimb usd commodity murabahah deposit i is a shariah compliant fixed deposit product using the shariah concept of murabahah mark up to facilitate the deposit taking activity from you to the bank. The deposits will be managed in accordance with shariah.